Fiscal cliffhanger: A mountain to climb for Obama

Originally posted on Business 360:

Editor’s note: Todd Benjamin is CNN’s former financial editor.

London (CNN) – Now that we know who’s won the election, the real uneasiness can begin. There’s only one issue that matters to financial markets, and that’s if President Obama and Congress can cut a deal on the looming budget crisis, the so called fiscal cliff. It refers to the $600 billion of tax hikes and spending cuts that are suppose to take effect on January 1.

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